Bedroom Community
Definition of "bedroom community"
The definition of a bedroom community, or commuter town in real estate is a unique type of community that merely uses their homes to sleep, while doing everything else offsite. In a bedroom community, people work, eat and engage in recreational activities away from their homes, only returning to their domiciles to sleep.
These communities are a fascinating phenomenon, characteristic of the unique social paradigms in large cities that manifest due to the dynamic nature of modern metropolitan life. Now, let’s look at an example of a bedroom community, and exactly what life looks like in one of these unique areas.
Pros and cons of living in a bedroom community
In the past half-century, bedroom communities have cropped up across the United States, in virtually every major metropolitan city. A desire to escape the traffic, pollution, high crime rates and other woes inherent to city life has resulted in the forming of many such neighborhoods and suburban areas, as families increasingly migrate outwards into the periphery of major cities.
There are many intrinsic advantages to living in a bedroom community. Safety, better schools, cleaner air and less noise pollution all contribute to a higher standard of living than one would find in an urban environment. Many suburban areas are actually bedroom communities, albeit unbeknownst even to many that live there.
Despite the intrinsic advantages that accompany bedroom community living, there are also downsides that have to be acknowledged. Commuting to and from work eats into family time, Shopping becomes difficult when most stores are at a considerable distance from home and maintaining a social life with friends in the city becomes draining after a while.
Weighing the upsides and the negatives, it’s safe to say that living in a bedroom community is ultimately a matter of personal preference. For some, it is well worth the inconveniences; for others, it is simply untenable as a way of life.
Popular Real Estate Terms
A right or interest in property held by a third party, which often limits the use and diminishes the value of the property, but usually does not prevent the transferring of title. The more ...
Something that is of good value for the money and an attractive deal. ...
A rental stipulation a varying rental rate. Rental rate are determined tied to periodic appraisals or an inflation or an inflation index. The provision is more common in a long-term leases. ...
Period of time during which a complainant in a real estate transaction can seek a financial recovery from a licensed real estate broker or agent. The time period is determined by state ...
Buying real property subject to risk. For the high risk undertaken, the expected return is higher. The investor may lose all of part of the initial investment. ...
Construction method where reinforced concrete is used with concrete block and mortar to form an extremely strong building. Reinforced concrete construction is often used in conjunction ...
A hidden or overlooked defect that may manifest itself at a later point in time. For example, a defect in a water pipe is not immediately discovered, and it later results in a massive water ...
Financial intermediaries who invest in deeds of trust and mortgages, and hold them in their own portfolio. Large financial firm that uses depositors' money to lend to borrowers. ...
Interest rate that exceeds the rate on the old loan but in less than the rate on new loans. It is usually offered by the lender to encourage home buyers to refinance existing, low interest ...
Have a question or comment?
We're here to help.